Keystone Property sells 4 mln shares to the public

NEW YORK (CBS.MW) - Keystone Property Trust
KTR, -6.25%
said it completed the public sale of 4 million shares of common stock. The underwriter of the offering also has an option to buy an additional 600,000 shares to cover over-allotments. The stock slipped 70 cents, or 3.5 percent, to $19.45. The real estate investment trust intends to use the proceeds for the sale to fund further acquisitions, to reduce debt and for general corporate purposes.

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Intraday Data provided by SIX Financial Information and subject to terms of use. Historical and current end-of-day data provided by SIX Financial Information. All quotes are in local exchange time. Real-time last sale data for U.S. stock quotes reflect trades reported through Nasdaq only. Intraday data delayed at least 15 minutes or per exchange requirements.